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Analyst Moves: NLY, CCO

Annaly Capital Management (NLY) was downgraded today by Wells Fargo (WFC) to market perform from outperform with a price target of $16 to $17. The firm is concerned that Annaly’s longer duraction portfolio will be hurt due rising longer term rates.

Shares are lower by nine tenths of a percent.

Clear Channel Outdoor (CCO) was downgraded today by Wells Fargo (WFC) to market perform from outperform with a price target of $14-15, as the stock price is full valued given the recent dividend announcement.

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